Regional M&A - Horizon Oil announce takeover offer for Cue Energy Resources

(Originally posted on March 4, 2026)

On Monday, 2 March 2026, Horizon Oil launched an off-market takeover offer for all shares in Cue Energy Resources. In parallel, it entered a pre-bid agreement with Cue’s largest shareholder, Echelon Resources, to acquire a 19.99% stake — securing an immediate strategic foothold ahead of the broader offer. Under the bid, Cue shareholders will receive a combination of cash and Horizon shares.

Cue holds oil and gas interests across Australia, New Zealand and Indonesia. In this article, I will examine the implied deal value, the asset base and the strategic rationale behind the transaction.